Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

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JUP price rallies as Jupiter Lend public beta launches with $2M rewards

  • Jupiter releases Lend in public beta with $2M in incentives and over 40 vaults.
  • The addition introduces higher borrowing limits and simplified earnings with reduced liquidity risks.
  • Native JUP has turned bullish following the announcement.

While most cryptocurrencies traded with unclear trajectories on Wednesday, Jupiter Exchange’s native token led the upside with a 6.99% uptick on its daily chart.

The altcoin turned green after the DeFi ecosystem confirmed the Jupiter Lend public beta launch.

Termed as “the most advanced money market on Solana,” the new functionality comes after weeks of development with Ethereum-based developer 0xFluid.

The beta launched with more than 40 vaults and over $2 million in incentives.

After weeks of testing, audits, and feedback, we’re launching with 40+ vaults and $2M+ in incentives from Jup, Fluid, and partners.

Jupiter Lend aims to transform how users borrow, lend, and maximize returns in the cryptocurrency world.

Simplified participation will likely enrich Jupiter’s DeFi landscape.

The exchange’s native token extended its daily recoveries after the announcement.

It has gained 6.99% on its 24-hour timeframe to press time’s $0.4980.

Built with proven expertise

The partnership has marked the first time two renowned DeFi teams from diverse ecosystems have converged to launch a blockchain protocol.

While Jupiter brought its Solana-native know-how, 0xFluid leverages its 7-year experience in building Ethereum-based money markets to provide an advanced liquidation and lending infrastructure.

Besides user benefits, the launch has attracted attention as it marked the first time two teams from different ecosystems have teamed up to launch a protocol that promises fairness for borrowers and simplicity for lenders.

Jupiter’s team highlighted:

For the first time, two top-tier DeFi teams from two different ecosystems are joining forces. Lend was built together with 0xFluid – a team that has spent 7 years perfecting money markets on Ethereum. We’ve worked together for months to build a Solana protocol that is simpler for lenders and better for borrowers.

Meanwhile, the platform opened Jupiter Lend to the public after months of collaborative development.

Multiple users participated in stress testing, whereas Offside Labs and Zeninth256 performed audits.

JUP’s new utility as a collateral asset

The new feature has enriched JUP’s use cases. The platform confirmed that users can deposit the native token as collateral.

That means individuals can borrow stablecoins like USDC against their JUP holdings while bolstering the ecosystem’s growth.

Such a move reflects the exchange’s emphasis on boosting the community token’s utility as the central asset for the blockchain.

JUP price outlook

The native coin soared nearly 7% over the past 24 hours to $0.4980.

JUP remains poised to extend its rally in the short term as upside sentiments surface.

Buyers are targeting price levels above $0.54.

However, improved trading volumes remain paramount to support sustained rallies.

Also, decisive momentum shifts in the broader market are crucial for JUP’s trajectory in the upcoming sessions.

The post JUP price rallies as Jupiter Lend public beta launches with $2M rewards appeared first on CoinJournal.

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FLOKI doubles Valhalla tournament prize pool to $150K ahead of September launch

  • The meme project has doubled its prize pool for the contest to $150,000.
  • 64 winners will share the rewards, with the top walking away with $50,000.
  • The tournament will start next month, with full details expected next week.

Digital currencies flashed recovery signals today as Bitcoin rebounded from the $109K vicinity to intraday peaks above $112,300.

Amidst the volatility, the Floki team revealed a crucial announcement about its upcoming Valhalla play-to-earn tournament.

The meme project has doubled the prize pool to $150,000 for the contest, scheduled to begin in September.

It is the first competitive event within FLOKI’s Valhalla metaverse ecosystem.

According to the latest announcement:

The prize pool has been doubled to $150,000! A total of 64 winners will share this massive prize pool.

The massive prize pool will likely enhance community participation.

The platform will reward 64 participants, promising payouts even for mid-tier performers.

A metaverse tournament with massive rewards

FLOKI’s Valhalla contest promises meaningful prizes for participants.

While these events mostly reward a few top players, the dog-themed crypto project has adopted a tier payout framework.

64 winners will enjoy prizes as follows:

  • 1st position – $50,000
  • 2nd position – $20,000
  • 3rd to 4th position – $10,000 each
  • 5th to 8th position – $4,000 each
  • 9th to 16th position – $2,000 each
  • 17th to 32nd position – $1,000 each
  • 33rd – 64th position – $400 each

FLOKI has opted for an inclusive payout structure to make the tournament competitive, offering rewards even for those who will not reach the final round.

Such an approach will likely lengthen participation.

Bolstering the Valhalla momentum

The latest announcement is part of FLOKI’s effort to shed its meme image with increased utility, focusing on gaming ecosystems.

It released the immersive metaverse game Valhalla on June 30, 2025.

Meanwhile, the September Valhalla Tournament will be Floki’s first test of the game’s play-to-earn approach.

The doubled prize pool reflects its desire to gain attention from the broader crypto gaming community.

Experts believe this approach will give Floki a competitive edge as markets shift from hype-driven projects to real-world utility.

Indeed, most P2E platforms struggle to survive after initial launches.

Thus, Floki is backing its first contest with such a massive prize pool.

The potential winnings would likely attract guilds, competitive gamers, and streamers to strengthen the Floki user base.

Potential impact on FLOKI

If the content delivers massive engagement, it might fuel Valhalla’s adoption and FLOKI’s growth.

With $150K in prizes at stake, the September tournament could be a defining moment for the meme token.

FLOKI displayed optimism amidst the Valhalla news. It hovers at $0.00009701, up 3% on its daily chart.

However, the declining trading volumes reflect the prevailing broad market downturn.

The alt will likely erase its daily gains, unless buyers step in to sustain the upside.

Enthusiasts will watch how FLOKI performs in the coming sessions, especially during the September Valhalla tournament.

Crypto trader and analyst Top Gainer Today expects the alt to 10x in the coming few months.

The post FLOKI doubles Valhalla tournament prize pool to $150K ahead of September launch appeared first on CoinJournal.

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Synthetix price soars 20% amid volume spike: here’s why

  • Synthetix’s native token SNX spiked more than 20% in 24 hours to hit $0.79.
  • Daily volume rocketed 700% to over $147 million, with Synthetix benefiting from a broader crypto bounce.
  • The Synthetix network’s move to launch its perps DEX on the Ethereum mainnet has helped SNX price.

Synthetix (SNX), a decentralized futures protocol with trading support on Ethereum, has seen its price surge by 20% within the last 24 hours as Bitcoin leads a minor bounce for the crypto market.

The SNX token, which has climbed alongside notable gains for Ethereum, Solana and XRP, hit intraday highs of $0.79.

Price gains for the altcoin happened alongside a significant jump in daily volume, with bulls attempting to break above a level that has previously constrained upside momentum around $0.80.

Synthetix (SNX) pops 20% in 24 hours – here’s why

The crypto market, still reeling from recent losses, is showing early signs of recovery as buyers attempt to regain control.

Bitcoin has reclaimed the $110,000 mark after a sharp dip, while Ethereum has climbed back above $4,560, holding steady despite broader risk asset pressure.

Solana has broken past $204, and XRP is eyeing the $3.70 level, both reflecting improved sentiment.

Within this backdrop, Synthetix has surged 20%, standing out as one of the stronger performers.

The rally comes as decentralised finance tokens show renewed strength, aided by Synthetix’s recent launch of the first perpetual exchange on the Ethereum mainnet—a development seen as a key catalyst for the token’s momentum over the past week.

In the period, SNX price has jumped by double digits, helped by the rollout of pre-deposits and a chance for traders to get on the Synthetix mainnet alpha whitelist.

The launch of SLP vault, a liquidity pool offering access to liquidity across all perp markets and an opportunity to rank among the first to earn SNX points, has driven a lot of the market activity for Synthetix.

Network support for gasless trading is also a huge move for the perps DEX.

SNX price forecast

While SNX price hovers at $0.79 and eyes gains towards $1, the altcoin remains well off its all-time peak of $28.53 reached in 2021.

Synthetix has also struggled since rejecting the December 2024 peak of $3.40.

Despite this largely negative trend, analysts are seeing a short-term bullish flip for Synthetix’s price.

If SNX successfully takes out the resistance at $0.80 and $0.85, bulls could eye the $1 mark.

Synthetix chart by TradingView

Technical indicators on the daily chart support this outlook. The Relative Strength Index (RSI) is at 57, signalling potential for continuation.

Meanwhile, the Moving Average Convergence Divergence (MACD) is signalling a strengthening of upward momentum after a bullish crossover.

However, volatility remains a concern, and the $0.60 zone could offer support if bears pick up the advantage.

Traders taking profit or whale activity taking hold will be a key watch in the coming days for Synthetix, particularly after its 20% surge.

The post Synthetix price soars 20% amid volume spike: here’s why appeared first on CoinJournal.

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Numeraire price jumps 40% as JPMorgan commits $500m to Numerai

  • Numeraire price is up 40% to near $12.40 after JPMorgan secured $500 million capacity in Numerai.
  • The NMR token jumped to highs last seen in February.
  • JPMorgan’s move sees Numerai more than double its size.

Numeraire (NMR), the native token of the San Francisco-based crypto hedge fund Numerai, has surged more than 40% in the past 24 hours after JPMorgan announced investment in the hedge fund.

On Aug. 26, the Numerai team announced that JPMorgan has secured $500 million in capacity in Numerai, triggering the sharp price surge. Gains outpaced Cronos (CRO), which spiked after Trump Media announced a partnership with Crypto.com.

As NMR price broke to near $12.40, Numeraire’s daily volume jumped more than 800% to over $115 million. The token’s price reached its highest price since February.

NMR price chart by CoinMarketCap

JPMorgan secures $500 million capacity in Numerai hedge fund

As the intersection between artificial intelligence and decentralised finance grows, the crypto sector has become a magnet for top collaborations.

Numerai, the San Francisco-based hedge fund built by data scientists, is one of those in the ascendancy.

On Tuesday, the platform revealed that it had secured a $500 million commitment from JPMorgan Asset Management, with this coming after Numerai saw its assets grow from $60 million to $450 million.

The $500 million allocation follows Numerai’s exceptional performance in 2024, delivering a 25.45% net return with a Sharpe ratio of 2.75.

As highlighted in Numerai’s blog, investment from JPMorgan, one of the largest allocators to quantitative strategies globally, signals Wall Street’s growing confidence in AI-powered financial models.

The Paul Tudor Jones-backed hedge fund is set to see its assets under management more than double after this move.

A rebound that caught Wall Street’s attention

Numerai’s path has not been without setbacks. The firm lost 17% in 2023, echoing the struggles of other experimental quant platforms such as Quantopian, which shut down in 2020 after failing to deliver sustainable returns.

However, Numerai rebounded with a 25% gain in 2024 and has strung together 15 consecutive months of positive performance.

That turnaround drew the attention of institutional investors. “People don’t really want to invest until there’s a track record,” founder Richard Craib said in a Bloomberg report. “And when you’re doing something super unusual and different, like we are, they might wait even longer before they get excited.”

So far in 2025, Numerai’s flagship fund, Numerai One, is estimated to be up about 6% net of fees, compared to a 7% return for an index of quant equity market-neutral funds tracked by Aurum.

The fund has delivered gains in all but one year since inception, including a 20% rally in 2022 when broader markets slumped.

Big news for NMR?

Numerai, founded in 2019, operates a unique crowdsourced hedge fund model that leverages AI and data science.

On the platform, global data scientists can submit stock market predictions through an API and stake NMR tokens to back their models. Successful predictions earn rewards, while incorrect ones result in token burns, creating a dynamic incentive structure.

Additionally, Numerai has recently announced a repurchase of $1 million in NMR, a move that has the data science community excited.

The JPMorgan partnership not only validates Numerai’s vision but also highlights the potential for Numeraire in the crypto-AI sector.

With the hedge fund looking to scale its team and operations, the investor attention on NMR will likely be huge, particularly following this move by JPMorgan.

NMR price reached highs above $93 in May 2021 and  $25.80 in December 2024.

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Gemini taps Ripple to launch limited edition credit card with 4% XRP cashback

  • The exchange has partnered with Ripple to launch a limited edition credit card.
  • Users will enjoy up to 4% XRP cashback on their day-to-day purchases.
  • Ripple’s RLUSD stablecoin to simplify crypto access.

As cryptocurrencies integrate with our daily financial undertakings, trading platform Gemini has collaborated with Ripple to release an XRP-powered credit card.

The limited-edition metal card aims to simplify transactions for the Ripple community, enabling cardholders to receive instant crypto incentives each time they swipe.

While traditional reward models pay in monthly cash or points, Gemini offers up to 4% cashback in XRP immediately after transactions.

Notably, the limited-edition card is currently available for users in the US alone, with applications starting today.

Spending in the digital era

The Gemini XRP credit card turns daily purchases into seamless opportunities to earn cryptocurrencies.

Imagine earning XRP tokens each time you buy groceries.

You can pay bills in dollars and receive instant crypto rewards in your account.

The incentives model comprises:

  • 4% back in XRP on EV charging, rideshare purchases, and gas.
  • 3% XRP reward on restaurants and dining.
  • 2% XRP back on groceries.
  • 1% back in XRP on all other daily purchases.

Crypto enthusiasts can leverage this setup to stack XRP tokens passively.

The digital card converts routine expenses like running errands, taking lunch, and filling up tanks into crypto investments.

RLUSD to simplify trading

The XRP credit card comes with a key update within the Gemini ecosystem.

The crypto exchange has officially integrated Ripple’s RLUSD stablecoin to support US spot trading.

Individuals can access a stable token without incurring extra conversion fees.

That streamlines how users move RLUSD, XRP, and other digital assets on the exchange.

The stablecoin enriches Gemini’s trading platform with simplified stable values and crypto-backed incentives.

Gemini’s XRP gift card and stablecoin support underscore the broader trend to make digital assets practical for daily activities.

Why timing is crucial

The move comes after Ripple gained regulatory clarity after finalising its prolonged battle with the US SEC.

Also, the United States has introduced regulatory policies to support the cryptocurrency sector.

Donald Trump signed the GENIUS law, which provided the sought-after clarity for digital assets innovations, especially stablecoins.

The XRP credit card reflects the crypto market’s maturity.

The industry that began as an experimental niche has evolved into a mainstream financial instrument with traditional offerings comprising crypto benefits.

Recently, SBI Holdings inked a deal to distribute RLUSD in Japan.

XRP price outlook

Ripple’s native token traded in the red amidst a broad market bloodbath.

It has lost 2% over the past 24 hours to $2.95.

While bears dominate short-term trends, analysts forecast impressive performance for XRP in the coming months, citing its real-world utility in global payments.

Also, the Ripple vs SEC conclusion increased XRP’s institutional appeal.

Enterprises looking for a legitimate asset to join the digital assets bandwagon will possibly choose XRP.

Analysts expect XRP’s price to rally to $5 in 2025 and further in the coming years.

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